16 Jan 2012
YFM Equity Partners backs buyout of Displayplan
(Photo: Neil Campbell and Scott Morris - Displayplan Limited)
YFM Equity Partners has backed the management buy-out of Displayplan Limited, a display fixtures business, from Leggett & Platt UK Limited for an undisclosed sum.
YFM Equity Partners backed Displayplan Limited through the two British Smaller Companies Venture Capital Trusts. The Derby corporate banking centre of The Co-operative Bank provided senior term finance and full banking facilities for the MBO. Eastwood Anglo Corporate Finance acted as lead advisor to management. The buy-out was jointly led by Neil Campbell, who has worked in the group since 1992 and will become Executive Chairman and Scott Morris who continues as Managing Director.
Founded in 1984, Displayplan Ltd employs 50 people across its headquarters in Baldock, Hertfordshire and in China, Germany and Holland. It provides a complete retail display consultancy service from concept through design and sourcing to finished product delivery. Typical products include bespoke point of purchase (POP) stands in high street retail stores.
Commenting on the MBO, Scott Morris said: “Neil and I are delighted that YFM Equity Partners and The Co-operative Bank are partnering with us as we develop and improve the products and services we offer our customers.”
Mary Broadhead, Investment Director, YFM Equity Partners said: “Displayplan is a mature business with great potential to undertake transformational growth of the services and products it offers to its brand and retail customers across Europe. We look forward to supporting Neil, Scott and the team as they further develop the business.”
Mark Turner, Senior Business Development Manager at the Derby corporate banking centre of The Co-operative Bank, said: ''Displayplan is a proven business and we’re delighted that they selected us as one of the key providers of finance for this transaction. We believe the business has a bright future under its experienced and innovative management team.''